Spain’s 10-year government bond yields reach dangerous levels

Spain’s 10-year government bond yields have again experienced a sharp increase by 0.16 percent and neared dangerous levels.
The government bonds yields of Spain increased by 0.16 percent on Friday and made the total number 6.9 percent, signaling the fact that the EU bloc’s sovereign debt crisis is still far from its end.
Meanwhile, Italy’s bond yields faced an increase as well, jumping over six percent high.
The bond yield increase comes as the two EU member states are desperately trying to get a grip on their budgets to stay away from an EU bailout.
The recent development is alarming for Madrid, as the cash-stripped south European country has already asked for loans to get its troubled banks back on track.
Some other cash-stranded European countries, including Greece, Ireland and Portugal, were all forced to seek international aid shortly after their bond yields exceeded the seven percent threshold.
Various EU member states have been struggling with a deep economic stagnancy since the bloc’s financial crisis began roughly five years ago, forcing some of the most affected nations to adopt unbearable austerity measures to be eligible to get the EU bailouts.
MY/DB/JR/SS